Medical Care Technologies Inc. (OTCPK:MDCE) announced a private placement of 42,857,143 common shares at $0.00035 per share for gross proceeds of $15,000 on July 17, 2012. The transaction saw participation from a single accredited investor, Nicolas Suppa. The securities have been issued pursuant to Regulation D. As part of the transaction, the investor has also gained a right, for 120 days, to purchase an additional 42,857,142 shares at $0.00035 per share. David Lubin of David Lubin & Associates, PLLC served as the legal advisor to the company. On July 17, 2012, Medical Care Technologies Inc. closed the transaction.